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(Offshore-energy.biz) Subsea7 has reported a “robust” backlog of $10.4 billion in its financial results for the first quarter of 2024, with tendering activity high in both the subsea and offshore wind sectors. To remind, in the financial results for the full year of 2023, Subsea7 reported it had secured $7.4 billion of contract awards last year, taking its backlog... Continue Reading →
(Offshore-energy.biz) Siem Offshore has reported operating revenues of $336 million for the fiscal year 2023, an increase from $274.3 million in 2022, and $85.2 million for Q4 2023, compared to $64.3 million in Q4 2022, said to be caused by an uplift in charter rates, generated by increased demand for offshore support vessels (OSVs) and... Continue Reading →
(Reuters) Australia's top oil and gas explorer Woodside Energy posted a 37% drop in annual underlying profit on Tuesday, as lower realised prices for its products offset higher sales and production. Oil and natural gas prices softened in 2023, as slowing global growth and a weaker-than-expected economic recovery in China weighed on demand. "Compared with 2022, 2023 full-year... Continue Reading →
Despite suffering an adjusted net loss of $74 million during fourth-quarter 2023, offshore drilling company Transocean is in the midst of an upcycle, which CEO Jeremy Thigpen presciently predicted in the company’s third-quarter 2023 earnings call. Now it just needs to pay off. After a tough fourth quarter, Transocean expects to see a meaningful increase in demand for “longer-duration... Continue Reading →
(OET) Oslo Stock Exchange-listed semi-submersible accommodation vessel owner and operator Prosafe has caught sight of increased activity in tenders covering work for 2025 and beyond. While the firm is primarily expecting more assignments in the North Sea and Brazil, other regions are also being affected by the tightening of vessel supply. Prosafe’s fleet utilization for January... Continue Reading →
(OET) Offshore drilling contractor Valaris has landed a batch of new contracts and extensions across multiple geographies with Petrobras, Equinor, Harbour Energy, TotalEnergies, Shell, Ithaca Energy, Eni, undisclosed operators, and Anadarko Petroleum Corporation, a wholly-owned subsidiary of Occidental (Oxy). These deals will enable three floaters and six jack-ups in the rig owner’s fleet to undertake... Continue Reading →
(epbr) The British oil company bp signed a Memorandum of Understanding (MoU) with the government of Ceará to study the construction of a production plant for green hydrogen and derivatives, such as green ammonia, in the Industrial and Port Complex do Pecém (CIPP). This is the 36th memorandum signed between the state government and national... Continue Reading →
(U) Australian engineering and services giant Worley has denied any corruption and refuted media reports that followed its recent international arbitration loss relating to historic operations in Ecuador — these reports alleged Worley had a tax liability in the South American nation. Detailing its side of the story, Worley on Wednesday confirmed that WorleyParsons (now... Continue Reading →
(OE) Offshore drilling company Valaris has secured approximately $1.14 billion in new contracts and contract extensions for its drillships and jack-up rigs across the Americas, Europe and Australia. The $1.14 billion worth contracts were awarded in the last two months of 2023, with the backlog excluding lump sum payments such as mobilization fees and capital reimbursements. These... Continue Reading →
Offshore staff (OM) Last year was a record for offshore wind investments worldwide, according to a report by TGS - 4C Offshore, with projects totaling 12.3 GW in capacity reaching closure. Up to 13 GW of further projects could go forward in 2024. The 2023 intake included FID on eight European projects total, concluding with Hornsea... Continue Reading →
Brazil Energy Insight 